Help My Credit Report

Credit scoring reports are determined based on several different factors and your credit card balance is one such factor. Factors such as late payments, too many credit inquiries, defaults on repayments, bankruptcy etc; all influence your credit score. To build good credit and a high credit score it is important to keep all these factors in check. While the balance of your credit card accounts do impact your credit rating, if all the other factors are fine, your credit scoring report will not be heavily impacted by your credit card balance. (more…)

As per the Fair Credit Reporting Act, every adult American citizen has the right to receive a free annual credit report from each of the three credit bureaus. However, many people are either not aware of this right or are not sure how to go about getting a free copy of credit report. As a result, there is many a credit report scam, conning people into paying money for getting something that is already theirs. (more…)

Unfortunately credit report errors and identity theft are no longer rare occurrences these days. While credit report problems are not uncommon, the average person is still unaware that they are protected against unfair credit reporting methods by the Federal Fair Credit Reporting Act (FCRA). The Fair Credit Reporting Act (FCRA) For Consumer Credit Worthiness The FCRA and the Fair Debt Collections Practices Act together form the basis of the American consumer credit system. Enforced by the Federal Trade Commission in 1970, the Fair Credit Report Act is federal law and grants consumers certain

In the internet age, fraudulent credit transactions are becoming increasingly common. If fraudsters gain access to your personal information, they might try to obtain credit pretending to be you. This is known as identity fraud, which is a result of identity theft. While you must take every step possible to prevent frauds from gaining access to your sensitive personal information, a new method being recommended by several credit and finance experts and credit report agencies is - freezing your credit. (more…)

James Marland was having issues with his credit report and decided to seek advice from a credit repair company. However, after weighing the costs and pros and cons of a credit repair service, he decided to help himself instead and fix his own credit report. James’ story puts into perspective the question “Are credit repair services actually needed?” or is credit restoration possible without help from them? Credit Repair Services - Why They Are Needed Credit repair services find their place in today’s complex environment owing to the fact that there is

Numerous credit consumers have to face rejection from financial institutions owing to credit errors which were not caused by them. It is therefore important to repair your credit report and improve your score as soon as possible. Alison had a credit card with a credit institution. Although Alison had been very regular with her payments, owing to a system error, her payments were not recorded and were being credited to another account. Her account showed defaults for over two and half months. Alison was completely unaware of this, till she applied for a

Kylie Mathews had a poor credit rating and was unable to obtain finance without agreeing to pay higher credit interest rates. For poor credit rating customers, getting a good credit interest rate is becoming a bigger problem during the recession. One fact to remember is that your individual FICO credit score has a directly proportional relation to the credit interest rate that will be offered to you (i.e. the better your FICO score the better the credit interest rate). (more…)

As we experience a credit squeeze like never before, it is mandatory that consumers understand what a good FICO credit score is and how it can be improved for a better personal credit rating. What is Your Fico Score Chart Made Up Of? Primarily your Fico credit score is dependent on the following factors: (more…)

Nearly 70% of all new cars purchased are on finance, making car loans one of the most popular types of consumer loans at present. However, despite the initial attraction of car financing, several borrowers later have trouble keeping up with their loan repayments, which ultimately affects their credit scores. As per a recently conducted Kelley Blue Book study, sixty per cent of car loan shoppers are now choosing longer term car loans as a way to reduce monthly repayments. While this is a smart move, reduced repayments alone cannot keep things in control and some other factors must

When Tevita Henare came in for some professional advice regarding her mortgage loan the only questions on her mind were “How can I manage my mortgage loan better?” and “How can I improve my credit report” . Needless to say, in recent times more and more mortgage loan holders seem to be affected by this, hence this might be a good time for mortgage holders to learn how to manage their mortgages better and thereby improve their situations and credit reports. Mortgage loans are one of the most important credit contracts consumers can get. It